IperionX (NASDAQ:IPX) Shares Up 5.6% – Time to Buy?

Shares of IperionX Limited (NASDAQ:IPX) were up 5.6% during mid-day trading on Monday . The company traded as high as $25.38 and last traded at $25.38. Approximately 10,981 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 31,313 shares. The stock had previously closed at $24.04.

Analysts Set New Price Targets

Separately, B. Riley started coverage on IperionX in a research note on Thursday, October 10th. They set a “buy” rating and a $30.00 price objective on the stock.

IperionX Trading Up 5.5 %

The stock has a 50-day simple moving average of $21.87 and a 200 day simple moving average of $17.35. The company has a quick ratio of 13.61, a current ratio of 13.62 and a debt-to-equity ratio of 0.02.

Hedge Funds Weigh In On IperionX

A number of hedge funds have recently made changes to their positions in IPX. EntryPoint Capital LLC acquired a new stake in shares of IperionX in the first quarter valued at $33,000. Symmetry Peak Management LLC purchased a new position in IperionX during the 3rd quarter valued at about $228,000. B. Riley Financial Inc. grew its position in IperionX by 3.3% in the 1st quarter. B. Riley Financial Inc. now owns 337,762 shares of the company’s stock valued at $5,036,000 after acquiring an additional 10,684 shares in the last quarter. Jane Street Group LLC lifted its position in shares of IperionX by 134.2% during the third quarter. Jane Street Group LLC now owns 26,528 shares of the company’s stock worth $591,000 after purchasing an additional 15,202 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new position in shares of IperionX in the third quarter valued at approximately $529,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

IperionX Company Profile

IperionX’s mission is to be the leading developer of low carbon, sustainable, critical material supply chains focused on advanced industries including space, aerospace, electric vehicles and 3D printing. IperionX’s breakthrough titanium technologies have demonstrated the potential to produce titanium products that are sustainable, 100% recyclable, have low carbon intensity and to do so at product qualities that meet or exceed current industry standards.